Recently, Biogen (NASDAQ:BIIB) reported encouraging data from an early-stage study of its investigational Alzheimer’s disease treatment. Given the significant unmet need in Alzheimer’s disease, the data created a great deal of excitement among investors.
The Alzheimer’s disease market is worth $5 billion annually, according to an estimate from Ac Immune. However, the market is expected to exceed $20 billion by 2020. By 2050, AC Immune expects the number of people suffering from the dreaded disease to triple to 135 million globally.
Alzheimer’s disease also inflicts significant cost on the U.S. healthcare system. According to AC Immune, the annual costs of treating and caring for patients with Alzheimer’s disease will be $1.1 trillion in 2015.
In this backdrop, it is not surprising that several companies are spending billions of dollars on developing treatment for Alzheimer’s. One such company is Anavex Life Sciences Corp. (OTCQX:AVXL). Based in New York City, AVXL is focused on the development of novel drug candidates to treat central nervous system (CNS) diseases, pain and various types of cancer.
AVXL’s lead product candidates are ANAVEX 2-73 and ANAVEX PLUS, which is a combination of ANAVEX 2-73 and donepezil. Both products are currently being evaluated for Alzheimer’s disease and are currently in Phase 2a clinical trial stage.
ANAVEX 2-73 is an orally available drug candidate, targeting sigma-1 and muscarinic receptors. The drug has completed a Phase 1 study with a clean data profile. Preclinical studies showed the drug’s potential to halt and/or reverse the course of Alzheimer’s disease.
Earlier today, AVXL announced that its President and CEO, Christopher U. Missling, Ph. D, will make a presentation at the World Orphan Drug Congress at 11:10 a.m. ET today. The presentation is titled, "Potential applications of sigma-1 receptors in orphan indications." During the presentation Dr. Missling will discuss the role of sigma-1 receptors in additional indications beyond Alzheimer’s disease.
Dr. Missling said that the company’s Phase 2a trial of ANAVEX 2-73 and ANAVEX PLUS in Alzheimer’s patients is well underway and the company is on track to present initial data by the third quarter of 2015. Dr. Missling further noted that in parallel, the company is able to expand its development of ANAVEX 2-73 into rare or orphan CNS diseases, which impact a small percentage of the population with significant unmet needs.
Dr. Missling will be also making an important presentation next month at the Antiepileptic Drug Trials XIII Conference. Shares have skyrocketed over the last few weeks from the $0.15 range to today’s price around $0.45 on these and other developments.
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